Finance

Aug 7 2017

Cody, Wyoming Retirement – Review of Community Life, Real Estate, Cost of Living, Taxes, Recreation & More #gig #harbor #real #estate


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There are a few mobile home communities, and Mountainview Village Mobile Home Park is one for people age 55 and better. There are also a number of apartment complexes. The median rent is about $685 per month.

Thanks to state revenues collected from oil exploration and mineral extraction contracts, Wyoming is a very tax friendly place for retirees. There is no state personal income tax, and so Social Security is not taxed. In fact, no retirement income is taxed. Real estate is assessed at just 9.5%, and a property relief program is in place for people with assets less than about $112,000. A property tax rebate, ranging from $800 to $900, is available to people age 65 and better who meet certain income requirements. The annual tax on a $220,000 home is approximately $1,250. The state sales tax is just 4%.

As the eastern gateway to breathtaking Yellowstone National Park, which is 50 miles to the west, Cody attracts a lot of visitors, primarily during the summer months. The town works hard to cultivate and promote its Western heritage for the benefit of tourists, but it is also the real deal. Residents are independent-minded and practical. Cowboys and ranchers in Stetsons mingle with vacationers, and cattle auctions attract lively crowds. The Cody Stampede, one of the largest rodeos in the nation, takes place in early July and brings in ranchers and performers from all over the West.

For city slicker visitors, Cody presents a rodeo every single night from June through August. A nightly, somewhat hokey re-enactment of a wild west shootout in the street next to the Irma Hotel, the establishment built by Buffalo Bill for his daughter, always draws a crowd. The Irma is worth a visit in its own right, too. It remains a popular restaurant and bar, and its focal point is the famous, massive cherry wood bar that was a gift to Buffalo Bill from England’s Queen Victoria.


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